Crisis-ridden National Spot Exchange Ltd (NSEL) on Tuesday sacked its Managing Director and CEO Anjani Sinha and six other top executives on a day it failed to meet the first scheduled repayment to investors.

The NSEL had to shut down its operation early this month following the government direction in the wake of violation of certain rules. It has given seven-month plan to settle Rs 5,600 crore to investors.

"The Board decided that the current Key Management team headed by Anjani Sinha - MD & CEO and other relevant heads of departments be removed from their current assignments, pending an enquiry," NSEL said in a statement.